The Collaborative International Dictionary of English v.0.48:

Punch \Punch\, n. [Abbrev. fr. puncheon.]
   1. A tool, usually of steel, variously shaped at one end for
      different uses, and either solid, for stamping or for
      perforating holes in metallic plates and other substances,
      or hollow and sharpedged, for cutting out blanks, as for
      buttons, steel pens, jewelry, and the like; a die.
      [1913 Webster]

   2. (Pile Driving) An extension piece applied to the top of a
      pile; a dolly.
      [1913 Webster]

   3. A prop, as for the roof of a mine.
      [1913 Webster]

   Bell punch. See under Bell.

   Belt punch (Mach.), a punch, or punch pliers, for making
      holes for lacings in the ends of driving belts.

   Punch press. See Punching machine, under Punch, v. i.


   Punch pliers, pliers having a tubular, sharp-edged steel
      punch attached to one of the jaws, for perforating
      leather, paper, and the like.
      [1913 Webster]

WordNet (r) 3.0 (2006):

punch pliers
    n 1: punch consisting of pliers for perforating paper or leather